Red Rock Resorts, Inc. (NASDAQ:RRR) Given Consensus Recommendation of “Moderate Buy” by Analysts

Red Rock Resorts, Inc. (NASDAQ:RRR) has been given an average recommendation of “Moderate Buy” by the fourteen analysts that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $64.4167.

A number of equities research analysts recently issued reports on RRR shares. Stifel Nicolaus set a $68.00 price target on Red Rock Resorts and gave the stock a “buy” rating in a research note on Monday, November 3rd. Susquehanna increased their target price on Red Rock Resorts from $68.00 to $69.00 and gave the stock a “positive” rating in a research note on Wednesday, October 29th. Truist Financial lifted their target price on Red Rock Resorts from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Zacks Research cut shares of Red Rock Resorts from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Finally, Morgan Stanley raised their price target on shares of Red Rock Resorts from $49.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th.

Red Rock Resorts Stock Performance

Shares of NASDAQ:RRR opened at $57.98 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.70 and a debt-to-equity ratio of 10.11. Red Rock Resorts has a 12 month low of $35.09 and a 12 month high of $63.60. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 1.95 and a beta of 1.51. The firm’s 50-day moving average is $58.07 and its 200 day moving average is $55.92.

Red Rock Resorts (NASDAQ:RRR) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.32. The business had revenue of $475.57 million during the quarter, compared to the consensus estimate of $477.25 million. Red Rock Resorts had a net margin of 9.52% and a return on equity of 59.86%. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.48 earnings per share. Research analysts predict that Red Rock Resorts will post 1.76 EPS for the current year.

Red Rock Resorts declared that its Board of Directors has approved a share buyback program on Tuesday, October 28th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 4.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Red Rock Resorts Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be paid a $0.26 dividend. The ex-dividend date is Monday, December 15th. This represents a $1.04 dividend on an annualized basis and a yield of 1.8%. This is an increase from Red Rock Resorts’s previous quarterly dividend of $0.25. Red Rock Resorts’s payout ratio is currently 31.85%.

Institutional Trading of Red Rock Resorts

Large investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership increased its holdings in Red Rock Resorts by 2,248.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,354,644 shares of the company’s stock worth $82,715,000 after purchasing an additional 1,296,956 shares during the period. Bamco Inc. NY grew its position in shares of Red Rock Resorts by 5.7% during the 2nd quarter. Bamco Inc. NY now owns 12,269,004 shares of the company’s stock worth $638,356,000 after buying an additional 666,593 shares in the last quarter. Eminence Capital LP grew its position in shares of Red Rock Resorts by 23.4% during the 2nd quarter. Eminence Capital LP now owns 3,059,372 shares of the company’s stock worth $159,179,000 after buying an additional 581,061 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Red Rock Resorts by 6.7% during the third quarter. Vanguard Group Inc. now owns 5,564,421 shares of the company’s stock valued at $339,764,000 after buying an additional 349,822 shares during the period. Finally, Voloridge Investment Management LLC raised its holdings in shares of Red Rock Resorts by 556.5% in the third quarter. Voloridge Investment Management LLC now owns 334,610 shares of the company’s stock valued at $20,431,000 after acquiring an additional 283,642 shares in the last quarter. Hedge funds and other institutional investors own 47.84% of the company’s stock.

About Red Rock Resorts

Red Rock Resorts, Inc, through its interest in Station Casinos LLC, develops and operates casino and entertainment properties in the United States. The company owns and operates gaming and entertainment facilities, including Durango Casino & Resort and smaller casinos in the Las Vegas regional market.